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Investors Met With Slowing Returns on Capital At Scholastic (NASDAQ:SCHL)

Investors Met With Slowing Returns on Capital At Scholastic (NASDAQ:SCHL)

投資者在Scholastic(納斯達克股票代碼:SCHL)遇到了資本回報放緩的問題
Simply Wall St ·  2023/12/15 23:19

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. In light of that, when we looked at Scholastic (NASDAQ:SCHL) and its ROCE trend, we weren't exactly thrilled.

你知道有一些財務指標可以爲潛在的多袋裝袋者提供線索嗎?理想情況下,企業將表現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 金額 已動用資本的百分比。簡而言之,這些類型的企業是複合機器,這意味着他們不斷以更高的回報率對收益進行再投資。有鑑於此,當我們查看Scholastic(納斯達克股票代碼:SCHL)及其ROCE趨勢時,我們並不感到非常興奮。

Return On Capital Employed (ROCE): What Is It?

資本使用回報率(ROCE):這是什麼?

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Scholastic is:

對於那些不知道的人來說,投資回報率是衡量公司年度稅前利潤(其回報率)與企業所用資本的關係。在 Scholastic 上進行此計算的公式爲:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

已動用資本回報率 = 息稅前收益 (EBIT) ¥(總資產-流動負債)

0.054 = US$63m ÷ (US$1.8b - US$599m) (Based on the trailing twelve months to August 2023).

0.054 = 6300 萬美元 ¥(18 億美元-5.99 億美元) (基於截至2023年8月的過去十二個月)

Therefore, Scholastic has an ROCE of 5.4%. Ultimately, that's a low return and it under-performs the Media industry average of 8.2%.

因此,Scholastic的投資回報率爲5.4%。歸根結底,這是一個低迴報,其表現低於媒體行業8.2%的平均水平。

View our latest analysis for Scholastic

查看我們對 Scholastic 的最新分析

roce
NasdaqGS:SCHL Return on Capital Employed December 15th 2023
納斯達克股票代碼:SCHL 2023 年 12 月 15 日使用資本回報率

Above you can see how the current ROCE for Scholastic compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Scholastic here for free.

在上方你可以看到Scholastic當前的投資回報率與之前的資本回報率相比如何,但從過去可以看出來只有這麼多。如果你願意,你可以在這裏免費查看報道Scholastic的分析師的預測。

What Can We Tell From Scholastic's ROCE Trend?

我們可以從Scholastic的投資回報率趨勢中看出什麼?

Things have been pretty stable at Scholastic, with its capital employed and returns on that capital staying somewhat the same for the last five years. This tells us the company isn't reinvesting in itself, so it's plausible that it's past the growth phase. So unless we see a substantial change at Scholastic in terms of ROCE and additional investments being made, we wouldn't hold our breath on it being a multi-bagger.

Scholastic的情況一直相當穩定,在過去五年中,其使用資本和資本回報率基本保持不變。這告訴我們該公司並沒有對自己進行再投資,因此似乎已經過了增長階段。因此,除非我們看到Scholastic在投資回報率方面發生重大變化並進行額外投資,否則我們不會屏住呼吸,因爲它是多管齊下的。

The Bottom Line On Scholastic's ROCE

Scholastic 投資回報率的底線

In summary, Scholastic isn't compounding its earnings but is generating stable returns on the same amount of capital employed. And investors may be recognizing these trends since the stock has only returned a total of 13% to shareholders over the last five years. Therefore, if you're looking for a multi-bagger, we'd propose looking at other options.

總而言之,Scholastic並沒有複利,而是用相同數額的資本產生了穩定的回報。投資者可能已經意識到了這些趨勢,因爲在過去五年中,該股僅向股東總共回報了13%。因此,如果你正在尋找一款多功能裝袋機,我們建議你考慮其他選擇。

If you're still interested in Scholastic it's worth checking out our FREE intrinsic value approximation to see if it's trading at an attractive price in other respects.

如果你仍然對Scholastic感興趣,那麼值得看看我們的免費內在價值近似值,看看它在其他方面的交易價格是否具有吸引力。

While Scholastic may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.

儘管Scholastic目前可能無法獲得最高的回報,但我們編制了一份目前股本回報率超過25%的公司名單。在這裏查看這份免費清單。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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